Measuring The Health of Your Business

Post on 24-Jun-2015

64 views 3 download

Tags:

description

Doug Driscoll, CEO of Starr Partners presented at The Business Of Real Estate held on 1-3 September 2014. #rebiz14

transcript

A  rising  (de  li,s  all  boats  

1.  Do  you  have  a  clear  mission,  

vision  and  purpose?  

2.  Do  you  benchmark  your  business  against  your  

compe((on?    

Revenue  Performance  

Market  Share  

3.  Can  you  (and  your  staff)  

clearly  iden(fy  and  ar(culate  what  dis(nguishes  you  from  

your  compe((on?  

4.  Do  you  know  why  customers  

choose  a  compe(tor’s  business  over  yours?  

5.  Do  you  speak  regularly  with  clients  about  ways  to  refine  and  improve  your  service?    

6.  Are  your  staff  accountable    for  their  performance?    

KPIs  2014%Office%KPI's

Agent%1 Agent%2 Agent%3 Agent%4Office Av%mth Av%week Annual Annual Annual Annual

2014%Income%Target $2,131,941 $177,661.75 $40,998.87 $799,594 $373,238 $426,409 $532,700 $2,131,941AV0PRICE $389,000 No%of%exchanges 268.0 22.3 5.2 100.5 46.9 53.6 67.0 268.0AV0NET0FEE 2.0450% Mas% 648.0 54.0 12.5 243.0 113.4 129.6 162.0 648.0AV0FEE0$ $7,955 Listings 309.7 25.8 6.0 116.2 54.2 61.9 77.4 309.7MA:INST0CONV0RATE 47.8% Inspections 3291.0 274.3 63.3 1234.1 575.9 658.2 822.8 3291.0FALL0THROUGH0RATE 8.30% Offers 900.0 75.0 17.3 337.5 157.5 180.0 225.0 900.0INSPECTION0TO0SALE0RATIO 8.90% Gross%sales 292.0 24.3 5.6 109.5 51.1 58.4 73.0 292.0INSPECTION0TO0OFFER0RATIO 27.70% Fall%throughs 24.2 2.0 0.5 9.1 4.2 4.8 6.1 24.2LISTING0TO0EXCHANGE0RATIO 86.6% Net%sales 267.8 22.3 5.1 100.4 46.9 53.6 66.9 267.8

268.238304 38% 18% 20% 25% 100%38% 18% 20% 25% 100%

Office%target%profile Sales/Lstgs IncomeJanuary 8% 6%February 10% 8%March 9% 10%April 8% 9%May 8% 8%June 8% 8%July 8% 8%August 5% 8%September 10% 5%October 10% 10%November 10% 10%December 6% 10%TOTAL 100% 100%

Share0of0LstgsShare0of0Sales

KEY%DATATOTAL

7.  Do  you  have  a  structured  professional  development  programme  in  place?    

8.  Do  you  regularly  survey  your  team  members  and  associates  to  help  iden(fy  possible  areas  

for  improvement  in    your  business?  

9.  Do  you  have  an  incen(ve    and  rewards  programme    (for  both  staff  and  clients)?  

10.  Do  you  have  an  on-­‐going  strategic  approach  to  

marke(ng?  

11.  Does  your  marke(ng  align  with  the  core  values  of    

your  business?    

12.  Does  your  team  understand  your  posi(on  statements?    

13.  Do  you  have  a  systema(c  way  of  measuring  the  response  to  

your  marke(ng?    

14.  Do  you  know  your    cost  of  acquisi(on?  

15.  Do  you  track  your    

digital  engagement?    

1-­‐5  Cri(cal  Condi(on  

5-­‐10  Visit  the  Business  Gym    

10-­‐15  Figh(ng  Fit